Civic Intelligence

Central Lakes College Foundation

990 • Fiscal year 2017 • EIN 23-7007111

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 01, 2017

Organization ProfileCLCMN.EDU/SCHOLARSHIPS
501 West College DriveBrainerd, MN 56401

(218) 855-8129

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

51st percentile

0.17x

Higher debt load relative to assets than 51% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

83rd percentile

1.20x

Higher debt load relative to revenue than 83% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

76th percentile

18%

Higher net margin than 76% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

90th percentile

40%

Faster asset growth than 90% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

94th percentile

137%

Faster revenue growth than 94% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$9,984,439

Up $2,870,619 (+40%) from 2016

Net Assets

Up

$8,242,699

Up $1,131,786 (+16%) from 2016

Liabilities

Up

$1,741,740

Up $1,738,833 (+59815%) from 2016

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin76th percentile

Revenue

Up

$1,450,898

Up $839,199 (+137%) from 2016

Expenses

Up

$1,189,749

Up $667,685 (+128%) from 2016

Net Income

Up

$261,149

Up $171,514 (+191%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2011: $5,511,892Liabilities 2011: $2,500Net Assets 2011: $5,509,3922011Assets 2012: $6,091,568Liabilities 2012: $41,681Net Assets 2012: $6,049,8872012Assets 2013: $6,590,488Liabilities 2013: $547Net Assets 2013: $6,589,9412013Assets 2014: $7,424,165Liabilities 2014: $38,365Net Assets 2014: $7,385,8002014Assets 2015: $7,275,312Liabilities 2015: $27,426Net Assets 2015: $7,247,8862015Assets 2016: $7,113,820Liabilities 2016: $2,907Net Assets 2016: $7,110,9132016Assets 2017: $9,984,439Liabilities 2017: $1,741,740Net Assets 2017: $8,242,6992017Assets 2018: $10,623,133Liabilities 2018: $1,667,214Net Assets 2018: $8,955,9192018Assets 2019: $10,804,225Liabilities 2019: $1,569,668Net Assets 2019: $9,234,5572019Assets 2020: $11,027,469Liabilities 2020: $1,548,207Net Assets 2020: $9,479,2622020Assets 2021: $13,221,977Liabilities 2021: $1,470,993Net Assets 2021: $11,750,9842021Assets 2022: $11,958,499Liabilities 2022: $1,394,871Net Assets 2022: $10,563,6282022Assets 2023: $12,795,464Liabilities 2023: $1,311,635Net Assets 2023: $11,483,8292023Assets 2024: $14,403,531Liabilities 2024: $1,497,383Net Assets 2024: $12,906,1482024Assets 2025: $15,698,314Liabilities 2025: $1,192,152Net Assets 2025: $14,506,1622025

Highlighted filing

2017

Assets$9,984,439
Liabilities$1,741,740
Net Assets$8,242,699
Open 2017 Filing

Operations Trend

Revenue Growth94th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $327,8062011Expenses 2012: $412,0342012Expenses 2013: $497,3282013Revenue 2014: $858,282Expenses 2014: $501,891Net Income 2014: $356,3912014Revenue 2015: $603,324Expenses 2015: $739,687Net Income 2015: -$136,3632015Revenue 2016: $611,699Expenses 2016: $522,064Net Income 2016: $89,6352016Revenue 2017: $1,450,898Expenses 2017: $1,189,749Net Income 2017: $261,1492017Revenue 2018: $1,756,539Expenses 2018: $1,569,485Net Income 2018: $187,0542018Revenue 2019: $1,702,454Expenses 2019: $1,648,531Net Income 2019: $53,9232019Revenue 2020: $1,912,333Expenses 2020: $1,792,502Net Income 2020: $119,8312020Revenue 2021: $2,774,706Expenses 2021: $2,086,349Net Income 2021: $688,3572021Revenue 2022: $3,188,442Expenses 2022: $1,916,730Net Income 2022: $1,271,7122022Revenue 2023: $2,652,455Expenses 2023: $2,754,138Net Income 2023: -$101,6832023Revenue 2024: $3,002,200Expenses 2024: $2,596,566Net Income 2024: $405,6342024Revenue 2025: $3,669,250Expenses 2025: $3,011,679Net Income 2025: $657,5712025

Highlighted filing

2017

Revenue$1,450,898
Expenses$1,189,749
Net Income$261,149
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 1, 2017
Return Version
2016v3.0
Gross Receipts
$1,456,777
Mission and Program Overview

Mission

To promote clc student success by addressing financial barriers to pursuing higher education - through scholarships, strong alumni and donor relationships, affordable student housing, and other appropriate assistance.

The organization provides scholarships to students attending central lakes college

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,084,147$7,670,808▲ $586,661
Land, Buildings, and Equipment, Net$1,625$2,104,153▲ $2,102,528
Cash and Non-Interest-Bearing Accounts$4,764$136,664▲ $131,900
Accounts Receivable-$56,866-
Intangible Assets-$10,790-
Prepaid Expenses and Deferred Charges-$5,158-
Savings and Temporary Cash Investments$3,284$0▼ $3,284
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Inventories for Sale or Use-$0-
Total Assets$7,113,820$9,984,439▲ $2,870,619
Other Assets Total$20,000$0▼ $20,000
Liabilities
Mortgage Notes Payable Secured by Investment Property-$1,659,550-
Accounts Payable and Accrued Expenses$2,907$48,633▲ $45,726
Other Liabilities-$32,725-
Deferred Revenue-$832-
Total Liabilities$2,907$1,741,740▲ $1,738,833
Net Assets / Fund Balance
Permanently Rstr Net Assets$6,338,611$6,737,124▲ $398,513
Unrestricted Net Assets$304,400$1,085,943▲ $781,543
Temporarily Rstr Net Assets$467,902$419,632▼ $48,270
Total Net Assets Fund Balance$7,110,913$8,242,699▲ $1,131,786
Total Liabilities and Net Assets / Fund Balance$7,113,820$9,984,439▲ $2,870,619

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,712,014$33,569$1,745,583
Land$363,400-$363,400
Equipment$10,559$19,294$29,853
Other Land Buildings$18,180$2,182$20,362

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$6,338,611$398,513--$6,737,124
2015$6,204,695$133,916--$6,338,611
2014$6,049,021$155,674--$6,204,695
2013$5,943,788$105,233--$6,049,021
2012$5,838,453$105,335--$5,943,788
Compensation and Service Providers
Top Officer Pay20th percentile

Board Members and Trustees

NameTitle
Pam O'RourkePresident
J Bradley PersonVice President
Barbara AndersonDirector
Dustin GoslinDirector
Jani WieboltDirector
Jim BensonDirector
John OhlinDirector
Kevin DonnayDirector
Mike HagenDirector
Nathan HamiltonDirector
Richard BreenDirector
Sherrie ChristensenDirector
Steve WenzelDirector
Tom ReekDirector
Jeff WigSecretary
Tracie McFarlinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$932,551
Program Service Revenue
$0
Investment Income
$154,083
Other Revenue
$364,264
All Other Contributions
$932,551
Change in Net Assets
$261,149

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table29$135,925ExpertOpinion
Other Non Cash Contri Table1$33,361ExpertOpinion
Other Non Cash Contri Table1$31,716ExpertOpinion
Other Non Cash Contri Table1$21,259ExpertOpinion
Other Non Cash Contri Table1$16,000ExpertOpinion
Other Non Cash Contri Table4$7,037ComparableSale
Other Non Cash Contri Table2$6,001ExpertOpinion
Drugs and Medical Supplies5$4,917ComparableProp
Clothing and Household Goods-$4,700ComparableProp
Other Non Cash Contri Table1$3,029ExpertOpinion
Other Non Cash Contri Table1$1,400ComparableSale
Other Non Cash Contri Table1$200ExpertOpinion
Total Noncash Contributions47$265,545-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,450,898
Revenue Not Reported on Form 990
$876,516
Total Revenue per Audited Statements
$2,327,414
Total Revenue per Form 990
$1,450,898
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$781,790
Other Expenses$407,959
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$781,790--$781,790
Fees for Service Investment Mgmnt Fees-$45,892-$45,892
Interest$37,790--$37,790
Depreciation Depletion$36,280$1,500-$37,780
All Other Expenses$26,667$9,730-$36,397
Other Expenses$30,639$10,037-$30,639
Fees for Services Legal$19,041--$19,041
Fees for Services Management$14,150--$14,150
Fees for Services Accounting-$11,941-$11,941
Information Technology$7,000$4,662-$11,662
Fees for Services Other-$10,382-$10,382
Insurance$6,388$1,353-$7,741
Advertising$1,997$326-$2,323
Office Expenses$843$799-$1,642
Total Functional Expenses$1,093,127$96,622$0$1,189,749

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,195,628
Expenses per Audited Statements$1,189,749
Total Expenses per Form 990$1,189,749
Expenses Not Reported on Form 990$5,879
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Central Lakes CollegeBrainerd, MNGovernmentFunding for scholarships & programs$516,245
Central Lakes CollegeBrainerd, MNGovernmentFunding for college programs$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$9,500
Fundraising Direct Expenses$5,879
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit$30,270
Accrued Interest$2,455
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents

“The Organization updated its primary purpose during the year to include providing students with housing while they are enrolled at Central Lakes College.”

Form 990, Part VI, Line 9: Officer, Director, Trustee, Key Employee Mailing Address

“Tracie mcfarlin18650 country road 24brainerd, mn 56401brad person510 laurel streetbrainerd, mn 56401pam o'rourke14275 golf course drive ste 120baxter, mn 56425”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The treasurer of the organization reviews the form 990 with the finance committee and makes a copy of the form 990 available to the board of directors and to the public upon request”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Monitoring of compliance with conflict of interest policies is done on an annual basis.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes its governance documents and financial statements avaiable to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Central Lakes College Foundation
EIN
23-7007111
Phone
2188558129
Address
501 West College Drive, Brainerd, MN 56401

Signing Officer

Name
Tracie McFarlin
Title
Treasurer
Signed
2017-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pam O'Rourke
Formed
1968
Legal Domicile
Mn
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
21

Preparer

Firm
Justin Clasen & Company Ltd
Address
30954 Government Drive, Pequot Lakes, MN 56472
Preparer
Christopher M Clasen
Phone
2185685242
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

“Investment earnings from endowment funds are used to provide scholarships to students attending Central Lakes College.”

Part X : FIN48 Footnote

“The Foundation is a nonprofit organization and is exempt from federal and state income taxes under Internal Revenue Code Section 501(c)(3) and related state statutes. The Foundation is not a private foundation and had no unrelated business income during the current year. The Foundation files Internal Revenue Service Form 990 annually with the federal government.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Add back fundrasing expenses $5879”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Subtract fundraising expenses $5879”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm6Jani Wiebolt
IRS990/Form990PartVIISectionAGrp/PersonNm7Mike Hagen
IRS990/Form990PartVIISectionAGrp/PersonNm8Barbara Anderson
IRS990/Form990PartVIISectionAGrp/PersonNm9Dustin Goslin
IRS990/Form990PartVIISectionAGrp/PersonNm10Tracie McFarlin
IRS990/Form990PartVIISectionAGrp/PersonNm11J Bradley Person
IRS990/Form990PartVIISectionAGrp/PersonNm12John Ohlin
IRS990/Form990PartVIISectionAGrp/PersonNm13Jeff Wig
IRS990/Form990PartVIISectionAGrp/PersonNm14Tom Reek
IRS990/Form990PartVIISectionAGrp/PersonNm15Steve Wenzel
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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt11Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
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IRS990/InsuranceGrp/TotalAmt07741
IRS990/IntangibleAssetsGrp/EOYAmt010790
IRS990/InterestGrp/ProgramServicesAmt037790
IRS990/InterestGrp/TotalAmt037790
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE ORGANIZATION PROVIDES SCHOLARSHIPS TO STUDENTS ATTENDING CENTRAL LAKES COLLEGE
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt03621
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt03621
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0360643
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0360643
IRS990/NetUnrlzdGainsLossesInvstAmt0870637
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt0265545
IRS990/NondeductibleContributionsInd0false
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IRS990/OfficeExpensesGrp/ProgramServicesAmt0843
IRS990/OfficeExpensesGrp/TotalAmt01642
IRS990/OfficerMailingAddressInd0true
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
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IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Bad debt expense
IRS990/OtherExpensesGrp/Desc1Repairs & Maintenance
IRS990/OtherExpensesGrp/Desc2Staff Expense
IRS990/OtherExpensesGrp/Desc3Utilities
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IRS990/OtherExpensesGrp/ProgramServicesAmt049175
IRS990/OtherExpensesGrp/ProgramServicesAmt146955
IRS990/OtherExpensesGrp/ProgramServicesAmt234412
IRS990/OtherExpensesGrp/ProgramServicesAmt330639
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IRS990/OtherExpensesGrp/TotalAmt146955
IRS990/OtherExpensesGrp/TotalAmt244449
IRS990/OtherExpensesGrp/TotalAmt330639
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IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
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IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt06737124
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IRS990/PoliticalCampaignActyInd0false
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IRS990/PrincipalOfficerNm0Pam O'Rourke
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0443605
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0368631
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0370589
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0159719
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0155201
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0140739
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01137709
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt018046
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt018715
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt09006

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,984,439
Liabilities
$1,741,740
Net assets
$8,242,699
Revenue
$1,450,898
Expenses
$1,189,749
Net income
$261,149
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$15.7$1.19$14.5$3.67$3.01$0.66
2024Detailed filing. Detailed filing data is available for this year.$14.4$1.50$12.9$3.00$2.60$0.41
2023Detailed filing. Detailed filing data is available for this year.$12.8$1.31$11.5$2.65$2.75$0.10
2022Detailed filing. Detailed filing data is available for this year.$12.0$1.39$10.6$3.19$1.92$1.27
2021Detailed filing. Detailed filing data is available for this year.$13.2$1.47$11.8$2.77$2.09$0.69
2020Detailed filing. Detailed filing data is available for this year.$11.0$1.55$9.48$1.91$1.79$0.12
2019Detailed filing. Detailed filing data is available for this year.$10.8$1.57$9.23$1.70$1.65$0.05
2018Detailed filing. Detailed filing data is available for this year.$10.6$1.67$8.96$1.76$1.57$0.19
2017Detailed filing. Detailed filing data is available for this year.$9.98$1.74$8.24$1.45$1.19$0.26
2016Detailed filing. Detailed filing data is available for this year.$7.11$0.00$7.11$0.61$0.52$0.09
2015Detailed filing. Detailed filing data is available for this year.$7.28$0.03$7.25$0.60$0.74$0.14
2014Detailed filing. Detailed filing data is available for this year.$7.42$0.04$7.39$0.86$0.50$0.36
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.59$0.00$6.59$0.50
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.09$0.04$6.05$0.41
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.51$0.00$5.51$0.33